Iran has ramped up the amount of oil it sends openly through the Strait of Hormuz to the highest since the war began, as shipping activity picks up while Tehran and Washington seek a lasting peace deal, Bloomberg reported.
Azerbaijan's oil exports to Croatia totaled nearly 300,000 tons in the first four months of the year, marking a decline compared to the same period in 2025.
Global stockpiles of crude oil and products are being drawn down at a record pace this month as the war in the Middle East drags on, curtailing supplies, according to Goldman Sachs Group Inc.
According to OPEC, Russian oil accounted for the majority of India and China's oil imports in March of this year.
A tanker carrying Azerbaijani crude oil was set to arrive as early as Tuesday with the first cargo of oil received from Central Asia since the Iran war began in February, Japan's industry ministry said.
Global oil reserves fell by 200 mln barrels in April due to lower supply amid the conflict in Iran, marking the largest decline since the COVID-19 pandemic, the Financial Times reported, citing data from S&P Global Energy.
Iraq has sharply cut oil prices for buyers willing to ship crude through the Strait of Hormuz amid the escalating tensions in the region, Bloomberg reported.
According to a source, the UAE may not participate in the next OPEC+ meeting. The organization's countries may also exclude Abu Dhabi from quota allocations.
Abu Dhabi will not sever ties with oil-exporting countries after leaving OPEC
At the beginning of this year, oil exports via the Baku-Tbilisi-Ceyhan pipeline declined, with export deliveries down nearly 10%.
The Basra-Ceyhan oil pipeline could become an alternative to the Strait of Hormuz for energy exports, according to the head of the IEA.
Saudi Arabia is demanding that the US stop blocking the Strait of Hormuz and return to the negotiating table with Iran, The Wall Street Journal reported, citing sources.
In February of this year, Russia regained its status as the largest oil supplier to both India and China, providing around 1 million barrels per day.
The U.S. administration waived sanctions on the purchase of Iranian oil at sea for 30 days in its latest attempt to ease oil prices that have been driven up by the U.S.-Israeli war on Iran.
Iraq has resumed oil exports via the Kirkuk-Ceyhan pipeline, the state-owned North Oil Company (NOC) said, according to the Iraqi news agency INA.
Overall sea freight volumes decreased by 20%
In January, Azerbaijan's fuel exports to Armenia surpassed $2 million, with these shipments having commenced at the end of the previous year.
The United Kingdom has approved new sanctions against Russian oil exports, extending restrictions to include both companies and individuals.
Iranian authorities suspect the crew of oil smuggling
Nearly 53 million tons of Azerbaijani, Kazakh, and Turkmen oil have been delivered via the Baku-Tbilisi-Ceyhan pipeline over the past two years, Azerbaijani Energy Minister Parviz Shahbazov said.
